NEW DELHI: Delhi Development Authority (DDA) is set to finalise the name of the consultancy company in the next few weeks to design a 100-storey smart sub-city complex at Karkardoma, a top official said on Wednesday.

"The DDA has received proposals from global consultants from places such as Dubai, Singapore, Paris to design the smart sub-cities complexes to begin with at places like Karkardoma and Sanjay Lake area. The organizations is short listing their proposals which would be finalized in next few weeks," said Balvinder Kumar, vice chairman of DDA.

With an approximate investment of Rs 4,500 crore, the Karkardoma complex will be built by the National Building Construction Corporation (NBCC) under sole administrative control of the Delhi Development Authority (DDA). Construction will begin by mid 2016.

"Approximate investment volumes are yet to be worked out for a similar complex at Sanjay Lake area of Delhi also being developed by NBCC," Kumar added.

The union urban development ministry on Tuesday notified operational guidelines for implementing the land pooling policy, which will help DDA obtain land for housing, bypassing the lengthy land acquisition process.

However, the actual implementation now depends on Delhi government's decision on declaring 95 villages in the city as development area and 89 of them as urban villages.

Kumar also infomed that, "the notifications for the Transit Oriented Development Policy would be declared towards the end of this week."

The DDA's Master Plan Delhi (MPD) 2021 proposes construction of 25 lakh housing units by 2021 for which 10,000 hectare of land will be required. As per DDA estimates, 2.5 lakh houses, including 50,000 EWS units, will require 1000 hectare of land.

Mumbai: Nipun Sahni, former managing director and head, India, real estate investment group at Bank of America-Merrill Lynch has joined US-based Apollo Global Management as partner and head of real estate, India